IMPORTANT NEWS FOR THOSE ON ENERGY FIXES

MWT

brewerdave said:

Had it "confirmed" on chat today with EDF that I WOULD be charged the exit fee to move my gas on to the SVR now from my fix BUT BG's email said they would let me move the leccy without any fee. - has anyone had a different answer from EDF ??

Didn't BG always allow you to move from a fix to another BG tariff without fees? ... I don't think that is a new feature, historically they only charge the exit fee if you leave them completely.

Ultrasonic

Inigo_Montoya said:

One thing that just occurred to me 

I assume its possible that the unit rate on your fix will reduce to the cap BUT that the standing charge will stay the same especially if its lower  i.e. you could still potentially keep the lower standing charge on your fix   ?

If so then that slightly complicates matters in terms of switching to the SVR now rather than waiting for the discount to kick in automatically on October 1st

You would end up paying a bit more till October 1st but then a bit less for the remaining term of your fix - however given its only pennies difference per day in the standing charge the difference is probably negligible 

I've made a similar point in another thread and for my own situation this is the reason I won't be switching from my fix to the SVT. In my case the difference in the electricity standing charge is something like 27 p per day so not negligible (~£100 per year).

luckwudaveit

deejaybee said:

luckwudaveit said:

Shambles. Lured in to a fix because of increases coming and have now been paying over the odds since May. That's 4 months. 

But you would have been feeling mighty smug on your fix while others were paying a lot more ( before the govmt intervention )

Thems the breaks i'm afraid.

I don't think anyone would be feeling 'mighty smug' paying the rates we currently are. If the govt had acted sooner rather than sorting themselves out, we would all have been better informed sooner, to make better decisions.

SMcGill

In my case the difference in the electricity standing charge is something like 27 p per day so not negligible (~£100 per year).

Same here, the new cap for KWh is higher than my 2yr fix with EonNext but the new cap for SC is lower than my fix.

EonNext = 29p/KWh & 51p/day for electricity and 7p/KWh & 41p/day for gas
New cap = 34p/KWh & 46p/day for electricity and 10p/KWh & 28p/day for gas

LauraJayne_2

Ballymoney said:

Not sure why Martin’s advice for those on a fix is to do nothing?! That means overpaying between now and Oct 1st. Bizarre advice.

Agreed, I think Martin needs to stop giving people such poor advice. It more sounds like those on fixes should be trying to shift to standard variable rates with immediate effect

Mobtr

K2rool said:

It's probably correct the rates are getting lowered only to the cap, in my own opinion it did sound a bit too good to be true with the discount the unit price might be lower than the new cap.

A question on behalf of a friend he currently on a fix with GEUK let say it only lowered to the cap she eligible for warm homes discount which GEUK only offers to core group which she isn't, anyone know any energy supplier still accepting new customer on svr

It’s too late to change for the warm home discount. The DWP had a date of 21 August as the cut off date so whoever your supplier is on that date gets paid the money if you’re entitled to it. Changing supplier now would not enable him to get it 

[Deleted User]

LauraJayne_2 said:

Ballymoney said:

Not sure why Martin’s advice for those on a fix is to do nothing?! That means overpaying between now and Oct 1st. Bizarre advice.

Agreed, I think Martin needs to stop giving people such poor advice. It more sounds like those on fixes should be trying to shift to standard variable rates with immediate effect

Some suppliers are still charging exit fees.  Martin's discussion with the energy suppliers appears to suggest that there will be no exit fees from 1 Oct to 15 Nov.  This could be a saving of hundreds of pounds if you are in that situation, at a cost of a more expensive fix for three weeks.

Spoonie_Turtle

K2rool said:

A question on behalf of a friend he currently on a fix with GEUK let say it only lowered to the cap she eligible for warm homes discount which GEUK only offers to core group which she isn't, anyone know any energy supplier still accepting new customer on svr

They have changed the Warm Home Discount in Englsnd and Wales so your friend should not bank on getting it this year - people have to claim a qualifying benefit but it also depends on the age/size/type of property where they live.

Still worth trying to change to a participating supplier though, in case he will qualify.  (I also recommend Octopus.)  He just needs to be aware it's possible he might not qualify.

michaels

brewerdave said:

Had it "confirmed" on chat today with EDF that I WOULD be charged the exit fee to move my gas on to the SVR now from my fix BUT BG's email said they would let me move the leccy without any fee. - has anyone had a different answer from EDF ?

MSE Martin says otherwise - perhaps not in place yet

[Deleted User]

michaels said:

brewerdave said:

Had it "confirmed" on chat today with EDF that I WOULD be charged the exit fee to move my gas on to the SVR now from my fix BUT BG's email said they would let me move the leccy without any fee. - has anyone had a different answer from EDF ?

MSE Martin says otherwise - perhaps not in place yet

Martin suggests from 1 Oct to 15 Nov is the amnesty period being discussed.